Fillable California Form 3511 - Environmental Tax Credit

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TAXABLE YEAR

CALIFORNIA FORM

2007

Environmental Tax Credit

3511

Attach to your California tax return.

For calendar year 2007 or fiscal year beginning month ________day_______year _______, and ending month _______day______year______.

 SSN or ITIN

 Corporation no.  FEIN

Name(s) as shown on your California tax return

Secretary of State (SOS) file number

Part I Current Year Credit

1 Ultra low sulfur diesel fuel produced (in gallons). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2 Multiply line 1 by 5 cents (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Qualified capital costs limitation. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Total ultra low sulfur diesel fuel production credits allowed for all prior taxable years . . . . . . . . . . . . . . . . . . . 4

5 Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Enter the smaller of line 5 or line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

7 Ultra low sulfur diesel fuel production credits from pass-through entities:

If you are a:

Then enter the credit(s) from:

Shareholder

Schedule K-1 (100S)

Beneficiary

Schedule K-1 (541)

Partner

Schedule K-1 (565)

Member

Schedule K-1 (568)

. . . . . . . . . . . . . . . . . . . .

8 Current year credit. Add line 6 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

9 Credit carryover from prior year(s). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

10 Total available environmental tax credit. Add lines 8 and line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

11 Enter the amount of credit claimed on the current year tax return. See instructions . . . . . . . . . . . . . . . . . . . . .11

This amount may be less than the amount on line 6 if your credit is limited by tentative minimum tax on your

tax liability.

12 Credit carryover available for future years. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

Part II Credit Recapture

1 Credit Recapture. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

What’s New

small refiner at any facility located in California. The aggregate credit

for any taxable year with respect to the facility cannot exceed 25% of

Round Cents to Dollars – Beginning with the 2007 tax forms, round

the qualified capital costs incurred by the small refiner reduced by the

cents to the nearest whole dollar. For example, round $50.50 up to $51

aggregate credits for all prior taxable years.

or round $25.49 down to $25.

C Qualifications

General Information

To qualify for this credit, a small refiner must request from the California

A Purpose

Air Resources Board (CARB) a certification that both of the following

are true:

Use form FTB 3511, Environmental Tax Credit, to figure the credit

• The items for which qualified capital costs were paid or incurred are

for ultra low sulfur diesel fuel produced by a small refiner located in

for compliance with the applicable Environmental Protection Agency

California. Also use this form to claim pass-through environmental tax

(EPA) or CARB regulations.

credits, received from S corporations, estates or trusts, partnerships, or

• The small refiner placed the items, for which qualified capital costs

limited liability companies (LLCs) classified as partnerships, for ultra low

were paid or incurred, in service.

sulfur diesel fuel produced by a small refiner located in California.

D Definitions

S corporations, estates or trusts, partnerships, and LLCs classified

as partnerships should complete form FTB 3511 to figure the

1. “Ultra low sulfur diesel fuel” includes the following:

amount of credit to pass through to S corporation shareholders,

beneficiaries, partners, or members. Attach this form to Form 100S,

• Diesel fuel with a sulfur content of 15 parts per million or less.

Form 541, Form 565, or Form 568. Show the pass-through credit for

• Vehicular diesel fuel produced and sold by a small refiner on or

each S corporation shareholder, beneficiary, partner, or member on

after June 1, 2006. Or, if sold before June 1, 2006, the refiner

Schedule K-1 (100S, 541, 565, or 568).

specifically identifies and supports through internal test reports

as meeting applicable CARB regulations.

B Description

2. “Small refiner” is any refiner who owns or operates a refinery in

The California environmental tax credit is available for each taxable year

California that:

beginning on or after July 1, 2005, and before January 1, 2018. The

• Has had at all times since January 1, 1978, a crude oil capacity of

environmental tax credit is equal to five cents ($0.05) for each gallon

not more than 55,000 barrels per stream day.

of ultra low sulfur diesel fuel produced during the taxable year by a

7291073

FTB 3511 2007

For Privacy Notice, get form FTB 1131.

California Form 3511 - Environmental Tax Credit - 2007

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